Gold price faces new negative pressures – Analysis - 25-01-2023

Gold price faced new negative pressures yesterday to attack 1925.00 level, but it bounced bullishly to end the session above the bullish channel’s support line, to keep the chances valid to continue the main bullish trend, which its next target located at 1950.00.

The EMA50 continues to support the suggested bullish wave, noting that breaking 1928.00 followed by 1921.00 will stop the expected rise and press on the price to start bearish correction on the intraday basis.

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

The expected trend for today: Bullish